TD Cowen analyst Gregory Williams lowered the firm’s price target on IHS Holding to $23 from $26 and keeps an Outperform rating on the shares. The firm noted they announced that top customer MTN will decommission 2,500 IHS towers in Nigeria and switch to AMT. TD Cowen said while disappointing and perplexing, they trimmed their estimates and target to reflect the decommission. They see limited near-term harm that MTN could inflict going forward and for an expedited resolution.
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